Press Release: Recon Technology Prepares for Upcoming Annual General Meeting Amidst Disappointing Performance
Beijing, China – May 9, 2025 – Recon Technology, Ltd. (NASDAQ:RCON) is set to hold its Annual General Meeting on May 15, where stakeholders will have the opportunity to engage with the board on company strategies and executive remuneration, especially in light of recent disappointing financial results.
CEO Shenping Yin’s compensation for 2024 totals CN¥14 million, which includes a salary of CN¥4.36 million, reflecting a 14% decrease from the previous year. While this level of compensation is consistent with the industry average for companies of a similar size, it raises questions given the company’s dire performance. Over the past three years, Recon Technology’s earnings per share have plummeted by 92%, and shareholders have experienced an overall loss of 88%.
At the upcoming AGM, shareholders can voice concerns over executive pay, especially as company revenues fell by 1.7% over the last year—a trend that investors are unlikely to overlook. The substantial decline in earnings suggests that many investors may oppose any increases in CEO pay, considering the already poor performance.
Furthermore, it’s notable that CEO Shenping Yin holds approximately US$18 million in company shares, indicating a significant personal investment in Recon Technology. This commitment may serve as a counterbalance to concerns regarding executive compensation amidst struggling business metrics.
Despite the challenges, the board will present plans aimed at reversing the downward trend. Additionally, four warning signs regarding the company’s financial health will be discussed, urging cautious investment consideration.
With a market capitalization of US$46 million, shareholders will be eager to explore the board’s strategy moving forward, hoping to restore confidence and improve performance.
For investors exploring alternatives, they may wish to review other companies with stronger financial fundamentals.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
